Commercial Property to Let Southampton

There are many reasons to consider Commercial Property to Let Southampton – a good long term commercial property investment location.   Southampton is a key maritime port handling 1/5 of the UK’s container traffic with DP World Southampton being the 2nd largest container terminal in the UK.  Southampton supports 77,000 jobs in maritime industries and income of over £5.5 billion.   It is has always been a key cruise liner base but this is due to rise to 1.49 million passengers by 2020 and 2 million by 2030.   The port handles in excess of 42 million tones of cargo annually and by 2030 this is due to rise to 62.6 million according to the calculations of Associated British Ports which operates the Southampton port.  it handles 7% of the entire UK’s entire seaborne trade.

Centres for Commercial Property to Let Southampton

There are a number of significant developments in the pipeline with a £450m redevelopment of the Royal Pier area having been recently awarded to Morgan Sindall Investment  who are currently redeveloping Bournemouth town centre as part of a 20 year £350m regeneration project.  The Southampton scheme which will be over a 70 acre site will provide a major focal point for Southampton’s waterside view providing an enlarged Mayflower Park and a better site for the Southampton Boat Show.

Just behind this site is the Watermark West Quay developed being undertaken by West Quay developer, Hammerson.  This will feature a new public piazza, a new park, a multiplex “Cinema de Lux” from US operator, National Amusements and a 150 bed hotel, a residential tower of 200 apartments and cafes and restaurants.  This will really challenge the current crown held by rival south coast City Portsmouth.

Work is now fully underway for the development of the Sea City Museum which will contain the Titantic exhibition timed to coincide with the 100th anniversary of the sinking of the Titanic.  Outside the museum and facing the existing Guildhall building is the Guildhall Square which is set to become a key area for performing arts and live music and at the other end is the redevelopment of the old Tyrell & Green site into an arts complex housing an art gallery, theatre, Asian arts project and film-makers facilities.

However, the Crest Nicholson development of the former Vosper Thorneycroft shipbuilding site suffered a set back when US superyacht designer, Palmer Johnson pulled out of their proposed facility next to the development.  The scheme is still proceeding under the name of Centenary Quay and should improve the whole Woolston aspect of Southampton.

Linden Homes’ Park Centrale £8.5m scheme just off The Avenue and sited on former Southampton Unversity buildings will produce 235 residential units, 69 units of sheltered elderly accommodation and 7,269 square metres of commercial property to let Southampton.  The offices have been designed by leading archictects, AukettFitzroyRobinson and will incorporate 3 pavillions stepping from 3 to 4 storeys.

Mayflower Plaza near to the existing Mayflower Theatre is currently being constructed is a £70m mixed use scheme comprising a 105 bed hotel and 180 residential apartments.  It seems incredible that the City can support more hotel schemes but the newer hotels achieve high occupancy rates according to recent  report by Hotel Solutions with there being 98 hotels in South Hampshire providing over 6,400 letting bedrooms.   There are currently proposals for at least 43 new hotels across South Hampshire, which could deliver almost 5,000 new hotel bedrooms if they all went ahead according to the Hotel Solutions report.  Of course, a lot of the 4 star accommodation is targeted at the cruise market where passengers stay in hotels the night before they sail.  A further possible 14 hotels in Southampton town would produce 1340 more bedrooms with the creation of 684 new jobs over the period 2010 to 2030.

Oakdene Homes had planned a giant 27 storey tower comprising 500 flats and towering 90 metres high before the company went into administration in January 200 9.

Carnival, the world’s largest cruise shipping company built a landmark headquarters building in West Quay.  Ordnance Survey have opened a striking  new headquarters in Adnac Park on the north of the City.

In addition, to the West Quay shopping centre, the town also has the Marlands Mall Shopping Centre and Bargates Shopping Centre (although the latter is in sad decline and in need of a refurbishment).  Southampton was ranked 13th for shopping in the UK in 2007.   The negative impact of West Quay shopping centre on Above Bar appears to be receding with the boost from the development of the Arts Quarter in North Above Bar.

Oxford Street and Bedford Place remain the premier entertainment hubs with clubs, restaurants and cafes boasting impressive trade figures.

There is little doubt that Southampton will stay a key City on the South Coast and therefore a good location for commercial property to Let Southampton and investors .

2 Responses to “Commercial Property to Let Southampton”

  • Main reason for commercial property to let in Southampton may be long term investment location but there are some more reasons. Thanks for sharing the to let property centers in Southampton.

  • Dominic:

    My pleasure. Really glad you found it useful.

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Dominic Beeton, Solicitor
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